COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Deferred Payments for EPC

The following table summarizes the minimum required payments of the EPC deferred payments as of December 31, 2023 assuming Substantial Completion as defined in the CTCI EPC Agreement is achieved in the first quarter of 2025 and

excludes the contingent amounts accrued totaling $372.6 million as there is no contractual obligation related to this amount:

(in thousands)	EPC deferred payments
2024	$	—
2025	91,871
2026	91,871
2027	45,936
Total	$	229,679

Schedule of Lease-Related Assets and Liabilities

The table below presents the lease-related assets and liabilities recorded on the balance sheet at December 31, 2023 and December 31, 2022:

(in thousands)

Leases	Classification	As of December 31, 2023		As of December 31, 2022
Assets
Operating lease assets	Operating lease right-of-use assets	$	3,158	$	5,332
Total lease assets		$	3,158	$	5,332
Liabilities
Current
Operating	Current portion of operating lease obligations	$	1,806	$	1,897
Non-current
Operating	Operating lease obligations, net of current portion	1,154		3,090
Total lease liabilities		$	2,960	$	4,987

Schedule of Lease Cost

The table below presents the components of lease costs for the years ended December 31, 2023 and December 31, 2022:

(in thousands)

Leases	Classification	Year ended December 31, 2023		Year ended December 31, 2022
Operating Expenses
Operating lease cost	General and administrative expense	$	1,912	$	875
Short-term and variable lease cost	General and administrative expenses	181		39
Finance lease cost
Amortization of leased assets	Depreciation expense	—		368
Interest on lease liabilities	Interest expense, net	—		94
Total lease costs		$	2,093	$	1,376

The table below presents the weighted average remaining lease terms and weighted average discount rates for the Company's leases as of December 31, 2023 and December 31, 2022:

	As of December 31, 2023		As of December 31, 2022
Weighted average remaining lease term (in years)
Operating leases	1.8		2.6
Weighted average discount rate
Operating leases	5.32	%	4.61	%

Schedule of Maturity of the Lease Liabilities

The table below presents the maturity of the lease liabilities as of December 31, 2023:

(in thousands)	Operating leases
2024	$	1,713
2025	1,130
2026	253
2027	33
2028	1
Thereafter	—
Total lease payments:	3,130
Less: present value discount	(170)
Total lease liabilities	$	2,960